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Corrections Corporation of America Message Board

  • purplelish purplelish Jan 31, 1999 11:03 PM Flag

    Another prison break! TN

    SUN530PM] [Talent=Dan] (Talent=Dan) [COMPRESSION
    GRAPHIC=Prison Break] Convicted murderer David Britt is still on
    the loose tonight. [TAKE MAP] He escpaped from the
    South Central Correctional Facility in Clifton
    yesterday. Britt was convicted of carrying out a plot to
    kill a woman's husband 10 year's ago in West
    Tennessee. [VO] [RUNS: ] {VO} [10-13 Mark Bellinger pkg]
    This is the same jail where four inmates broke out
    last October after cutting through two security
    fences. It's run by C-C-A. [ESS FULL] {ESS FULL} David
    Britt is 5'8 and weighs one hundred and 90 pounds. He
    has brown hair and brown eyes. [ON CAMERA] {ON
    CAMERA} [Talent=Dan] (Talent=Dan) If you see anyone
    matching Britt's description you are asking to call the
    prison. ###

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    • From the locale news, he just walked out, along
      with the other staff, he aquired a uniform from a new
      officer, it is a pure shame that, they have such turnover
      rates at these "private run/for profit facilities, that
      they dont even know an inmate when they see him, for
      gods sake this one made the talk show circuit a couple
      of years back, saw him on oprah, geraldo, jennie
      jones or one of those. This is what you get when you do
      things in this venue for profit. I believe as
      stockholders it is time to re-examine, our portfolio, cause
      this thing is turning into a real dawg. Thanks DOC

      • 3 Replies to underinv
      • I live in a southern city with two prisons and a
        large county and local jail. It is not uncommon for
        there to be an escape at least once every six months.
        None of these facilities are privately owned or run.
        It seems to me that any multi-facility owner can
        expect that one of its prisons from time to time will
        have an escape. I believe the more important issue to
        look at is who can more economically provide housing
        for prisoners. Government has proven time and time
        again they are the high cost, low quality producer. One
        has to look no further than the post office. By the
        way, how many Federal Express employees took weapons
        to work and killed their coworkers during the last
        few years? My belief is that the only group pulling
        against PZN is shorts and unioned correctional officers.
        I, the tax payer, think PZN will prevail.

      • the statistics that private prisons or CCA has a greater turnover than any state run facilities.

      • You seemed to overlook the very relevant
        contribution of a prison guard to this escape. Given what
        you've written (without a link to any article), one
        would assume that this prisoner had no such help. For
        those who are interested, here's a link to the

    • The very first question on the CC was from none
      other than Jonathan Litt, and it was about the impact
      of the proposed legislation. Doc, Jr. handled it
      well, and to Litt's satisfaction. There was some more
      esoteric discussion - without a map it was hard to follow
      (Service Co A, Service Co B, Opco, preferred sub, 9.5% sub
      etc.). In any event, PZN believes there is nothing in
      the legislation that creates any problems (and as
      noted in the earlier post, NAREIT views the proposals
      as helpful, rather than threatening, designed to
      revitalize REITs somewhat).

    • a glass of Baker's (I don't drink it, but Nic
      says it's so).

      You're right about everything.
      In truth, I guess that, as a charter member of the
      Happy Brigade, I can live with another year of stock
      price sluggishness (doesn't matter anyway - I've got
      the growing dividends, right? As St. Doc said, "it's
      ordinary income! Pay tax! Reinvest!).

      I'm afraid it
      will take me another year to come to grips with the
      REIT concept, though. Sorry, I'm just a slow learner.
      That's why I'm not running a company that dominates its

    • Do you know if Litt's list was generated before or after the conference call? In the call, he seemed to accept management's comment's without challenge.

    • IMHO that's why we're down today.

    • This proves that either Litt really doesn't
      understand PZN's structure (never read proxy), or Bob Crants
      doesn't understand the new legislation. Bob said that
      overall PZN supports the legislation. Coupled with
      NAREIT's published comments, I'm guessing the former is
      the case. JMHO.

    • I admire your effective use of the word manage.
      I'm sticking to my guns on this one. Credit tenants
      meanl cheap borrowing costs which provide for increased
      market share via expansion. It beats used-car lots.

    • In a Dow Jones news release J. Litt is quoted as placing PZN
      on a list of REITS that might be affected by the new legislation.

    • Bob Crants said the % of income out of the
      preferred subs should be under the "radar" of 15%. He
      explained as the the revenue grows the % income in PZN will
      be grow faster then the preferred subs so ceiling of
      15% will NOT be a problem with PZN.

    • do yourselves a favor. Pay the $5 to listen to
      the conference. As flipper said, the newly proposed
      government regulations were covered. They are a non-event.
      Everybody, including the Analysts seemed to agree.

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